Earlier today, Donald Trump posted a clip on Truth Social from the Fox Business channel of Maria Bartiromo claiming that Donald Trump has been focused on affordability since day one of this term. She then said “Look at the price of oil. Look at the price of certain foods.” And she later said “he’s done actually effective job in bringing down the price of oil and I know it’s working on on other elements of affordability as well.” In the clip, she didn’t come back to what the “certain foods” you are supposed to be looking at the price of.
Oil is a bit of an odd thing to highlight, as almost no Americans are buying barrels of oil. They do buy products that come from oil. The most obvious one is gasoline. She didn’t mention the price of that decreasing. The price of Brent Crude oil, which is commonly referenced in media accounts as measure of the price of oil, is down 20.8% from when Donald Trump took office. By comparison, AAA’s national gas price average is down 1.6%. From $3.120 to $3.071 a gallon.
Notably, the price of gas isn’t close to $2 despite Donald Trump again today claiming, as he has done repeatedly, that it would soon reach that level.
Normally lower priced oil should lead to lower priced gasoline, the difference in the price change of oil and gas has been covered by the media this year.
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